BERGEPAINT.NSEBerger Paints India Ltd.
UPDATE 1-India antitrust watchdog clears JSW Paints' bid for up to 75% stake in Akzo Nobel India
The Competition Commission of India approved JSW Paints' acquisition of up to 75 per cent stake in Akzo Nobel India. This deal positions JSW Paints as the fourth largest player in the Indian paint sector. The sector is currently dominated by Asian Paints, Berger Paints and Kansai Nerolac. Grasim Industries' entry with Birla Opus has intensified competition.
cityfalcon.com·1mo ago
India antitrust watchdog clears JSW Paints' bid for up to 75% stake in Akzo Nobel India
India's antitrust body said on Tuesday it has cleared JSW Paints' deal to acquire up to 75% stake in Dutch paint maker Akzo Nobel's Indian unit. The deal, which was announced in June, comes at a time when Indian paint makers are grappling with rising raw material costs and intensifying competition. Post completion, the JSW Paints-Akzo Nobel deal will help place the unit, which is part of the $23 billion JSW Group, to fourth place by market share in a sector dominated by Asian Paints, Berger Paints and Kansai Nerolac, according to a Geojit Financial Services analyst.
cityfalcon.com·1mo ago
Paint sector slowdown: Early monsoon and price wars hit June quarter earnings, companies eye festive revival
India's leading paint companies experienced a subdued June quarter due to the early monsoon and increased competition. Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel reported muted numbers, though urban markets showed sequential improvement. Paint makers are optimistic about a turnaround during the upcoming festive season, anticipating increased demand in August and September.
cityfalcon.com·2mo ago
Stocks in news: Apollo Hospitals, NSDL, Nykaa, Berger Paints, Suzlon Energy
Indian markets experienced a decline after failing to maintain Monday's momentum. Apollo Hospitals saw a significant profit increase in Q1. NSDL and Nykaa also reported profit growth. Berger Paints aims for a substantial turnover by 2030. CG Power partnered to expand in the US rail market. NMDC announced its Q1 net profit and revenue. Cochin Shipyard's net profit increased.
cityfalcon.com·2mo ago
India’s Berger Paints misses quarterly profit view on higher expenses, one-time charge
Berger Paints India reported quarterly profit below analyst estimates on Tuesday, as higher expenses and a one-time charge related to a fire incident weighed. Consolidated net profit shrank 11% to 3.15 billion rupees (about $36 million) in the quarter ended June 30. Analysts, on average, had predicted a profit of 3.62 billion rupees, as per data compiled by LSEG. Berger took a one-time charge of 368.1 million rupees during the quarter. Key context Indian paintmakers have been grappling with soft retail demand. “The early onset of monsoon played spoilsport this quarter,” CEO Abhijit Roy said in a statement. However, India’s largest paintmaker Asian Paints said last month that it sees some “green shoots” of demand recovery in the sector. It had resorted to discounts in the quarter to buy back customers, while it posted an in-line quarterly profit. Rivals, Akzo Nobel India and Kansai Nerolac posted lower quarterly profit.
cityfalcon.com·3mo ago